ARTICLE SUMMARY
| Title: | Analysis of The Influence of Domestic Debt on Nigeria's Economic Growth |
| Author(s): | Eze Onyebuchi Michael, Udude Celina Chinyere, Nweke Abraham Mbam & Agbafor Michaela Ogbonna |
| Abstract: | The study analyzed the influence of domestic debt on economic growth in Nigeria for the period 1986-2020. The paper utilized Auto-Regressive Distributed Lag model in the investigation. In order to secure robust results, unit root test in the time series and cointegration test were employed. The estimation results revealed that domestic debt had a positive and significant effect on economic growth both in the short-run and the long-run. It also showed that domestic debt servicing exerted negative and significant impact on the economic growth of Nigeria in both the short-run and the long-run. The study recommended for an increase in domestic debt in financing fiscal deficits in Nigeria by issuing more federal bonds, treasury bills, among others. However, it was also recommended for re-structuring of domestic debt servicing strategies, so that loan contracted is utilized productively, and hence, reduced the effect of domestic debt servicing on the growth of the economy. |
| Keywords: | Domestic, Debt, Economic, Growth, Autoregressive Distributed Lag Model |
Editorial Board
EDITOR-IN CHIEF
Prof. Jonathan E. Aliede
DEPUTY EDITOR-IN CHIEF
Agatha Obiageri Orji-Egwu, Ph.D
MANAGING EDITOR
SÃmon Ugochukwu Nwankwo, Ph.D
EDITORS
Prof. Ifeyinwa Nsude
Prof. Angela Nwanmuo
Prof. Tyotom Keghku
Prof. Muyiwa Poopola
Prof. Nnanyelugo Okoro
Prof L. I. Ogbuoshi
Ruth. Chika Okorie, Ph.D
Adeola Sidikat Oyrleke, Ph.D
Celestine Ukeoma, Ph.D